Asia: Banks vie to build up Asia compliance teams

Asia’s compliance and corporate investigation industry is booming as regulators from China to the US crack down on corruption and companies turn to new technologies in a pre-emptive approach after a string of high-profile scandals.

Banks are among the companies suffering from a shortage of compliance officers at a time when a region-wide economic slowdown is putting their managers under pressure to maintain revenues, according to industry experts.

“The battle for compliance talent is tighter than ever,” said Chris Fordham, managing partner for fraud investigation at EY, the accountancy and professional services group, in Asia.